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Socar to hold DESFA deal talks in Athens

Azerbaijan’s state energy company Socar plans to hold talks with Greek officials over a deal to buy Greek natural gas pipeline operator DESFA, Socar’s president said on Friday.

In 2013, Socar agreed to 66 percent of the crisis-hit gas supply grid operator for 400 million euros. But the deal stalled after Socar was ordered to sell 17 percent of DESFA to a third party to satisfy EU competition authorities.

Complicating the sale further, Greece passed a law in July raising DESFA’s gas tariffs from next year by a much lower amount than expected.